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A Short-term Personal Loan is a quick financing solution designed to help you meet urgent financial needs. Whether you require funds for medical emergencies, travel, wedding expenses, or unforeseen expenditures, this loan provides immediate relief with minimal documentation and quick disbursal. Short-term Personal Loans come with attractive interest rates and flexible repayment tenures. With a simple application process and fast approval, you can bridge financial gaps without long-term commitments.
There is no need to pledge any asset to secure a Short Term Personal Loan. The funds are sanctioned based on your eligibility parameters—that’s all!
Choose a repayment tenure of up to 84 months to ensure affordable EMIs for easy repayments.
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments
Get the funds transferred to your account within 24 hours of applying for the loan.
Adding a co-applicant to the Short Term Personal Loan can increase your eligibility. You can also get a higher loan amount to meet different needs.
Find out the interest payable on the Short Term Personal Loans to plan your repayments effectively.
Find out if you are eligible to apply for a Short Term Personal Loan
Assess how much loan amount you require.
Use the eligibility calculator to verify your qualification.
Plan your repayment using the EMI calculator.
Upload necessary KYC and income proof online.
Complete the application form and receive quick approval.
Are you eligible for a Short Term Personal Loan? Check whether you meet the criteria.
* A higher age limit is applicable at the time of loan maturity.
Charge Type | Amount |
---|---|
Cheque Return charges | ₹500 + GST per instance |
Default Penal charges | 3% of the pending amount per month |
Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
CIBIL report retrieval fees | ₹100 + GST per instance |
Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
Loan reschedule charges | ₹5000 + GST per instance |
Stamp Duty | As per Actual if applicable |
Insurance Premium | As per Actual, if applicable |
Pre-closure Quote | ₹1000 + GST per instance |
Any other charges | As per Actual, if applicable |
Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
Your estimated EMI amount
₹ 0Total Interest
₹ 0Total Payout
₹ 0You are eligible for a loan of
₹ 0*EMI @ 9% Interest Rate
₹ 0*For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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A Short-Term Personal Loan is a type of personal loan which is offered for a shorter tenure. You can get a multipurpose loan for your financial needs and repay it quickly to get debt-free.
The duration of the Short-Term Personal Loan depends on the tenure you choose. Aditya Birla Capital offers loans with repayment tenures going up to 84 months.
The loan amount depends on your eligibility qualifications.You can use the loan eligibility calculator and find out the loan that you can avail of basis your eligibility.
Under a Short-Term Personal Loan, you choose the repayment tenure over which you can repay the loan affordably. After the loan is sanctioned, the EMI payments start immediately, and you repay the loan through EMIs over the chosen tenure.
The EMI depends on the interest rate and the repayment tenure selected. If the interest rate is constant, the EMI will be higher for shorter tenures than longer ones. So, if you choose a short repayment period, the EMI will be higher.
Short-Term Personal Loans have shorter repayment tenures compared to Long-Term Personal Loans. Moreover, as the tenure is shorter, the overall interest outgo on the loan is lower under Short-Term Personal Loans.
You can check loan offers from different lenders online and compare them. Then, choose the lender offering the best offer to get a good deal on the loan.
You need a credit score of 750+ to get a Short-Term Personal Loan from Aditya Birla Capital.
No, the interest on a Short-Term Personal Loan does not vary from a regular loan. It is similar and depends on your eligibility parameters and credit score.
Some of the benefits of Short-Term Personal Loans are as follows -
• You can get instant funds for your financial needs
• The loans are unsecured and do not require collateral
• You can repay the loan over a short tenure and get rid of the debt burden
• The interest outgo on the loan is lower since you repay it quickly
You can apply for multiple Short-Term Personal Loans at the same time. However, such a practice is not recommended because multiple applications affect your credit score negatively.
A Short-Term Personal Loan does not require collateral security as it is an unsecured loan. You can get the funds based on your income and eligibility qualifications.